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Have we talked about Facebook's Libra?
Posted on 6/20/19 at 5:08 am
Posted on 6/20/19 at 5:08 am
What are people's thoughts? In reading up on it, it appears to be more like the WeChat payment applications in Asia than an actual, traditional cryptocurrency, or am I missing something?
Their list of partners who are going to accept it is very interesting, though. I always thought that companies like Visa would struggle as consumers moved away from traditional payment methods, but they've done a damn good job of making sure they evolve and get a piece of every new iteration. I wish I'd jumped on the advice of that one guy who was talking about them a while back :(
What's everyone else thinking about Libra? Seems like it could be quite a risk to Facebook, not sure if I'd love it if I had large Facebook holdings, but we'll see.
Their list of partners who are going to accept it is very interesting, though. I always thought that companies like Visa would struggle as consumers moved away from traditional payment methods, but they've done a damn good job of making sure they evolve and get a piece of every new iteration. I wish I'd jumped on the advice of that one guy who was talking about them a while back :(
What's everyone else thinking about Libra? Seems like it could be quite a risk to Facebook, not sure if I'd love it if I had large Facebook holdings, but we'll see.
6
Posted on 6/20/19 at 6:22 am to FootballNostradamus
Pass.
Can't think of any reason why I would want it
Can't think of any reason why I would want it
Posted on 6/20/19 at 8:52 am to HailToTheChiz
Facebook already knows what you say, what you do, etc.. might as well tell them how much money you have as well
Posted on 6/20/19 at 8:56 am to FootballNostradamus
Save your breath. All-powerful Auntie Maxine will not allow it. 
Posted on 6/20/19 at 9:39 am to FootballNostradamus
They have to get past congress first
Posted on 6/20/19 at 10:55 am to FootballNostradamus
Zuckerburgs evolved quite a bit from making a website about who’s fricking who in college to now e-currency
Posted on 6/20/19 at 11:56 am to FootballNostradamus
quote:I'd like to learn how the average consumer would use the FB "currency" and how it would be more convenient than using a debit or credit card.
What are people's thoughts?
Posted on 6/20/19 at 12:49 pm to LSURussian
quote:
I'd like to learn how the average consumer would use the FB "currency" and how it would be more convenient than using a debit or credit card.
Again, he's modeling everything after WeChat IMO. If you've ever been to China, everything revolves around WeChat, from messaging to payments. When you go to a grocery store, you will pay with your phone using WeChat while you text someone using WeChat.
He's trying to turn Facebook into a universal application that you use for all things, most notably messaging and payments.
Posted on 6/20/19 at 1:53 pm to FootballNostradamus
quote:Thanks but I'm not asking how it works. I'm asking why would I want to use it?
you will pay with your phone using WeChat while you text someone using WeChat.
This post was edited on 6/20/19 at 1:55 pm
Posted on 6/20/19 at 3:59 pm to LSURussian
I can see it will have its uses for global transactions. Would be, I think, easy to use as your method for payment while traveling being that it is secure.
Posted on 6/23/19 at 10:31 am to FootballNostradamus
They are just trying to find another way to keep people in the Facebook ecosystem.
Visa only involved to cover all their bases, they have their hands in many of these plays.
Facebook usage is down quite a bit, especially in the younger demographics. I just don't see a universal platform like tencent has in China.
Visa only involved to cover all their bases, they have their hands in many of these plays.
Facebook usage is down quite a bit, especially in the younger demographics. I just don't see a universal platform like tencent has in China.
Posted on 6/23/19 at 11:04 am to JayDeerTay84
quote:Is it more secure than my Chase Bank Visa card?
I think, easy to use as your method for payment while traveling being that it is secure.
I've traveled to more than 50 countries, worked in 37 of them, and I've only had one fraudulent transaction put on my card (out of thousands of transactions) which Chase Bank caught and notified me about before I even noticed it (at the Paris airport) and thus that transaction never showed up on my account.
I don't worry at all about my Visa card's security.....
Posted on 6/23/19 at 12:27 pm to JayDeerTay84
quote:
Would be, I think, easy to use as your method for payment while traveling being that it is secure.
How is it more secure than a credit card?
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